Will our conveyancer be making enquiries about flooding as part of the conveyancing in Sully.
Flooding is a growing risk for solicitors dealing with homes in Sully. There are those who buy a house in Sully, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or by their solicitors which will figure out the risks in Sully. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to discover if the property has historically flooded. In the event that the premises has been flooded in past and is not revealed by the owner, then a buyer may issue a legal claim for losses resulting from an inaccurate response. A buyer’s lawyers may also commission an environmental report. This should higlight whether there is any known flood risk. If so, further inquiries will need to be initiated.
I completed on my home on 11 November and my personal details is not yet registered. Any reason for this? My conveyancing solicitor in Sully advises it should be recorded in a couple of weeks. Are properties in Sully uniquely lengthy to register?
As far as conveyancing in Sully registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether it is in order and whether the Land registry need to notify any third persons or bodies. At present approximately 80% of such applications are fully addressed within two weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the buyer is living at the property so an expedited registration is not usually primary concern but if there is a degree of urgency associated with the registration then you or your solicitor must speak with the land registry and explain the circumstances.
I'm purchasing my first flat in Sully with a loan from Clydesdale. The sellers refused to move on the price so I negotiated £7000 of extras instead. The sale representative told me not disclose to my lawyer about the deal as it will jeopardize my mortgage with Clydesdale. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Sully is where the house is located. Is there any advice you can impart?
Flying freeholds in Sully are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sully you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sully may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking into buying my first house which is in Sully and I am already nervous. I couldn't find anything specific about Sully. Conveyancing will be needed in due course but do you know about the Sully area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Sully. In the meantime here are some basic statistics that we found
There are only 62 years remaining on my flat in Sully. I now wish to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the lessor. On the whole an enquiry agent may be useful to try and locate and to produce an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Sully.
I bought a garden flat in Sully, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Sully with a long lease are worth £207,000. The ground rent is £60 charged once a year. The lease ends on 21st October 2082
With just 57 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.